Cannon Trading Futures Blog: Daily Support and Resistance Levels Blog: Futures Trading levels and Economic reports for June 27th

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Dear Trader,

Market sold off almost 3% today following yesterdays FOMC.

We may have more room to the downside as 1260 is the next support (low from March 17th this year) and if we penetrate it, we may see some stronger pressure to the downside.

On the flip side, chart below shows some Fibonacci time cycles and today was projected for short term low cycle....

We should defintely have an interesting trading Friday.

trade well!

LEVELS:

Contract (Sept. 2008)	SP500 (big & Mini)	Nasdaq100 (big & Mini)	Dow Jones (big & Mini)	Mini Russell
Resistance 3	1328.67	1939.67	12055	728.47
Resistance 2	1319.43	1923.33	11929	721.63
Resistance 1	1301.97	1895.17	11698	709.27
Pivot	1292.73	1878.83	11572	702.43
Support 1	1275.27	1850.67	11341	690.07
Support 2	1266.03	1834.33	11215	683.23
Support 3	1248.57	1806.17	10984	670.87

Contract	August Gold	Sept. Euro	August Crude Oil	Sept. Bonds
Resistance 3	964.43	1.5330	148.84	116 27/32
Resistance 2	942.37	1.5600	144.62	116
Resistance 1	930.73	1.5480	142.13	115 14/32
Pivot	908.67	1.5380	137.91	114 18/32
Support 1	897.03	1.5305	135.42	114
Support 2	874.97	1.5209	131.20	113 5/32
Support 3	863.33	1.4916	128.71	112 19/32

REPORTS (CST): Provided by MF Global Research

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

6/27	7:30	MAY	Personal Income	0.60%	- -	0.20%
FRI	7:30	MAY	PCE Deflator (YoY)	- -	- -	3.20%
	7:30	MAY	Personal Spending	0.70%	- -	0.20%
	7:30	MAY	PCE Core (MoM)	0.20%	- -	0.10%
	7:30	MAY	PCE Core (YoY)	- -	- -	2.10%
	9:00	JUN F	U. of Michigan Confidence	- -	- -	56.7

Note all time are CST. ANY AND ALL TIMES AND DATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. INFORMATION HAS BEEN TAKEN FROM SOURCES DEEMED TO BE RELIABLE, BUT NO ASSURANCES CAN BE MADE TO THE ACCURACY OF ANY OF THIS INFORMATION.

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!

Sincerely,

Ilan Levy-Mayer, M.B.A

Vice President / commodity broker
Cannon Trading Co Inc. - home of online futures trading
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannontrading.com

Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #515
Beverly Hills, Ca 90210

* Important Please Note:

IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

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Cannon Trading Futures Blog: Daily Support and Resistance Levels

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Futures Blog - Cannon Trading Daily Support and Resistance Levels

Thursday, June 26, 2008

Futures Trading levels and Economic reports for June 27th

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